Published on October 3rd, 2015 | by neteller0
Regular Neteller customers can now use Biticoin to store money in their e-wallets
21.9% of Americans are currently using various online payment systems thru their smartphones. Most of these customers would be happy when they received the news that Neteller has initiated the use of Biticoin deposit feature among its current customers and they could use it to store money in their Neteller e-wallet accounts. This initiative was undertaken under the patronage of BitPay and Optimal Payments. This small step made a huge impact as Optimal Payments became the first company at a global level to recognize and facilitate crypto-currency.
Get to know a few facts of Neteller
Neteller was developed in Canada in 1999. In 2004, it shifted to Isle of Man. Financial Conduct Authority or FCA authorizes the e-money transactions of Neteller. The parent company is Optimal Payments PLC. You should not confuse Neteller with a bank and it does not loan money to its customers. Neteller is owned by Optimal Payments and is a global leader in the area of online payment systems. People from 200 countries, use this system to receive and send money anywhere in the world, use it for forex trading and social network. Neteller further gains importance as it is widely used in the online gaming industry. The Net +cards are used during online gambling sessions and you can easily transfer stored money which is available in your digital e-wallet.
How has the addition of the Biticoin deposit feature helped?
Biticoin is a crypto-currency or virtual money in layman’s language. This payment system was invented by Satoshi Nakamoto who wanted to create a new type of currency, which would be digital in nature, clean and can be used easily. The Biticoin is created using simple principles of math and it is available on the internet. It could be best described as a de-centralized currency. In the words of Joel Layoff the President and CEO of Optimal Payments –The growing popularity of crypto currencies cannot be ignored and thus the necessity to partner with Bitpay, as the popularity of this digital currency grows.
How do you accept Biticoin?
The procedure offered by BitPay reduces the price-volatility of Biticoins. Here the merchants would need to use Biticoins and then convert them into a currency selected by them. BitPay uses various currencies at a global level. Thus, it is possible for merchants and individuals who need multiple currencies to use Biticoins. When a merchant uses Biticoins he is saving money but also is effectively saving time as the duration needed to transfer them is just a few seconds. Another important factor would be using money involves the usage of heavy service fees. This is absent when you use Biticoins and here the service fee is less. Sonny Singh the COO of BitPay Inc feels that the popularity of Biticoin lies in the fact that it has grown to be the more secure type of payment system which is widely used today. Sonny Singh further explains that their relationship with Optimal Payments would encourage more merchants to use them in an extensive way. BitPay has a major presence in Europe, North America and South America. It has raised $32 million amount from its various investors and this just shows how fast it has grown since 1999.